Commonwealth Consolidated Acts

FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY (COLLECTION) ACT 2023 - SECT 12

    The CSLR operator may, by notifiable instrument made:

  (a)   after the start of the first levy period; and

  (b)   after recalculating the amounts referred to in paragraphs 11(a) to (c);

determine for the first levy period a revised estimate using those recalculated amounts.

Note:   From this revised estimate:

(a)   any shortfall in levy can only be recovered as annual levy for a later levy period (see paragraph   9(1)(d) and subsection   9(6)), which will require a legislative instrument to be made under subsection   9(1); and

(b)   any surplus in levy will reduce annual levy for a later levy period (see subparagraph   9(1)(b)(iv) and paragraph   9(2)(c)), which will be reflected in a legislative instrument to be made under subsection   9(1).